The Charles Schwab Corporation $SCHW Shares Bought by RiverPark Advisors LLC

RiverPark Advisors LLC lifted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 66.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,243 shares of the financial services provider’s stock after buying an additional 10,054 shares during the quarter. Charles Schwab makes up 1.4% of RiverPark Advisors LLC’s portfolio, making the stock its 18th biggest position. RiverPark Advisors LLC’s holdings in Charles Schwab were worth $2,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Whale Capital LLP grew its holdings in shares of Charles Schwab by 33.4% during the second quarter. Blue Whale Capital LLP now owns 445,122 shares of the financial services provider’s stock valued at $40,613,000 after purchasing an additional 111,441 shares during the last quarter. Choreo LLC grew its stake in Charles Schwab by 9.6% during the 2nd quarter. Choreo LLC now owns 111,256 shares of the financial services provider’s stock worth $10,151,000 after buying an additional 9,734 shares during the last quarter. Correct Capital Wealth Management increased its position in Charles Schwab by 5.7% in the second quarter. Correct Capital Wealth Management now owns 35,352 shares of the financial services provider’s stock worth $3,226,000 after buying an additional 1,904 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Charles Schwab by 204.4% during the second quarter. J.W. Cole Advisors Inc. now owns 26,018 shares of the financial services provider’s stock valued at $2,374,000 after acquiring an additional 17,470 shares during the period. Finally, Manchester Capital Management LLC grew its position in shares of Charles Schwab by 9.7% during the second quarter. Manchester Capital Management LLC now owns 3,324 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Morgan Stanley lifted their price target on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. TD Cowen lifted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Barclays increased their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 15,626 shares of company stock valued at $1,500,095. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 0.2%

Shares of NYSE:SCHW opened at $90.73 on Wednesday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $161.22 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The firm has a 50 day simple moving average of $93.84 and a 200 day simple moving average of $92.90.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.